Monday, June 9, 2014

Downtown Edmonton Real Estate Market Update!

Downtown & Oliver number of condo sales and
inventory are up in May of 2014, while average days-on-market and selling prices unchanged!

81 condos have sold on the MLS® in
Oliver and Downtown area in May of 2014, 8 more than last month and 17 more
than in May of 2013. The selling price ranged from $113,000, 448 sq.ft. bachelor
in Glenora Manor, to $817,800, two bedroom and a den, 1,613 sq.ft condo in the
Serenity high rise.

The average selling price was almost identical as last month and up by 5.6%
from May of 2013. The price per square foot was up at $316 from $303. The inventory
has increased from 223 to 231 condos available. The average selling price was
$292,345 and average list price $300,423 and $324 per sq ft. Current
days-on-market are down to 40 days while sold-to-list price ratio unchanged at
97%.

The current absorption rate for Downtown and Oliver condos as of today stands
at 2.85 months compared to 3.0 in May of 2014.